from the original conception of this device the ability to add additional fields of attributes and to make sure they are directly available in your database with very minimal to no cost to add that information.
Finally, no matter how much work you spend with the inspectors or how hard you work to design the process up front, there’s always have the need to capture your notes or sketches while you’re in the field, to capture some information that you know is going to be important to the underwriters but may not be present at the current time the way that you designed the device. So embedded right in the application is the ability to capture both notes and sketches, phone numbers for important contact people, sketches of the building layout or interior features so that they never need to go back to paper. Everything they write in the field is immediately available to the underwriter.
This happens to be a sketch that I put together. Pardon the artwork but I’m sure the inspectors can do a much better and professional job when they’re using the device.
At the end of the day there’s a lot of things that are not really unique in a lot of the things that I’ve discussed to this point. There are a lot of mobile devices that are available out in the market today. Even on the cell phones that you may be using for your own personal use you have GPS and have the ability to transmit data. So, what would really be different and what’s the advantage of going with this particular technology that I’m talking about?
We think some of the advantages are first, this has been specifically designed for underwriters and with a very detailed and up-front focus on the extraction of information back at the office. So the instant the inspector finished the inspection process, the information is immediately served up to the underwriters in a format and reporting mechanism of their selection. Here we just have a sample view of what is possible. What you can see on the left side of the screen is all the photographs that were recorded in the field that are immediately available. We also have the detailed attributes that the inspector collected. We also have maps. So they can put in the context not only the location of this risk, but the risks that are in the surrounding area.
What we found and what a lot of carriers appreciated is the ability to have this database customized to their needs and for their extraction priorities with respect to either different catastrophe models or different pricing systems.
That ends my demonstration for Risk Rover technology and really, going back to a point that I started at the beginning of this presentation we feel that it’s really often usability to get the right data at the right place at the right time. With respect to right data, leveraging the increased efficiency you have with your inspectors by not having the double entry and the paper system, you can add additional data attributes that they will collect while they’re in the field for the same amount of time at each individual site.
With respect to the right place, all the data, notes, photographs, videos, everything that’s captured on site is immediately available to you in queryable form because it stays in a database format.
Finally, it’s available at the right time. Right now within many companies there is a wealth of information contained in those inspection reports but getting it available when you need to make it to make a decision is a cumbersome and difficult process. Risk Rover technology turns that around. The instant this information is captured it is available directly to you in the format that you need.
Here are the immediate tangible benefits. Your inspectors are going to be able to collect more data and they’re going to be able to collect it more accurately. One thing I forgot to mention during my overview of the process is that Risk Rover maintains a record of what the inspector’s recording while he’s at the site, he or she. When they complete the inspection they are able to bring up the status. Any information that they have missed or forgotten or need to collect is immediately made available to the inspector. They don’t realize this back at the office, they realize it at the site. Then they can get the information then and there on the spot.
We eliminate all that time that’s spent just rehashing the notes that they had already taken in the field and also this information can be used directly into a data evaluation system.
Not only can the inspector transmit the information back to the office, information and systems you have available at the office can be transmitted back to the device. Important information about valuation is available immediately to the inspector so they don’t have to try to estimate that on their own.
From an underwriting perspective and I think what everyone enjoys is that you get a lot more information. It’s not just getting more information, it’s the ease of it, access for the results you want to find. And finally for the risk managers you’re able to transmit this data directly into the capacity models more easily. Again, in a database format directly mapped into the AIR or RMS or EQE data formats. And really you’re going to be able to get those more important secondary modifiers that are going to improve the accuracy of your capacity loss estimate.
So, that concludes my demonstration of Risk Rover and my comments on mobile technology and how to be leveraged in the underwriting process. I believe we’ll be moving on to the next presenter.
McDONALD: Thank you, Glen. Excellent presentation. I know that Paul had a quick question.
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